Good news for Bhavish Aggarwal as Ola Electric's net loss narrowed to Rs...; share jumps to Rs...

Ola Electric news: Bhavish Aggarwal, Ola Electric founder, has received some good news on Monday as his electric vehicle firm announced its Q1 FY26 results. The company said its revenue from operations for the April-June quarter rose 35.5 per cent to Rs 828 crore, as against Rs 611 crore during the quarter ended March 31, 2025. The Bengaluru-based firm said it delivered a total of 68,192 vehicles in Q1 FY26, as against 51,375 units delivered in Q4 FY25, marking an increase of 32.7 per cent quarter-on-quarter.

EBITDA positive in June
   
The company said its auto business turned EBITDA positive in June, on the back of strong gross margins owing to the company's vertical integration strategy. The company's cost optimisation initiative, Project Lakshya, has driven significant operating efficiencies, reducing monthly auto operating expenses from Rs 178 crore to Rs 105 crore, it said in a statement. The company also expects the auto business to remain EBITDA positive from Q2 onwards, it noted.

Operating expense

Consolidated operating expense now stands at Rs 150 crore per month, and further reduction to Rs 130 crore a month is targeted through FY26, it added. Ola Electric said it expects to sell between 3,25,000 to 3,75,000 vehicles and generate revenue of Rs 4,200 - Rs 4700 crore in the current fiscal. With Production-Linked Incentive (PLI) benefits beginning from Q2 for the Gen 3 product portfolio, gross margin is projected to rise to 35-40 per cent, and the company anticipates full-year auto EBITDA of above 5 per cent, it added.

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Ola Electric shares

Shares of the company saw a major jump on July 14 after the Q1 results announcement. Ola Electric share closed at Rs 47.66 apiece on NSE. With this, the market cap of the company also jumped on Monday to Rs 19915 crore. Ola Electric said its product roadmap continues to yield strong customer traction. The newly introduced Gen 3 scooters accounted for 80 per cent of total scooter sales during the quarter, it stated.

(With inputs from PTI)